Russia and India eyeing new mechanism to bypass dollar – media ...News

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Russia and India eyeing new mechanism to bypass dollar – media
Top bankers will discuss a rupee-ruble market at a meeting in Moscow, the Economic Times has reported India and Russia are exploring the idea of a benchmark rupee-ruble exchange rate to start direct trade using the two currencies, the Economic Times (ET) has reported. Top regulators and bankers from both nations are seeking to overcome dollar trade barriers created by Western sanctions against Moscow, the outlet added. The issue will be discussed this week during a visit to Moscow by a deputy governor of the Reserve Bank of India (RBI) and senior officials from some of the country’s state-owned banks, the ET repor

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